ben bernanke was the chairman of the federal reserve. tim geithner it was the head of the federal reserve. i cannot remember whether ben bernanke's term is coming up in 2014. there is talk that tim geithner may be the next fed chair. it is quite likely we will have a new fed chair some time during obama's second term. host: when you say chatter, is this the white house getting that out to reporters? guest: like wall street, people talk. if ben bernanke were to leave the fed, tim geithner would be a natural candidate. it would be natural he would be considered. whether he would be interested in obama would be interested, we would have to cross that bridge when we come to it. host: john kerry is the official nominee. what challenges does he face? guest: susan rice opted out and sent a letter to obamas saying she did not want to be considered because her nomination might become divisive in the senate. president obama turned to senator john kerry. he was the 2004 presidential democratic nominee. he has extensive experience. i do not think he